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Geely Auto Group announced that Geely Autos sales in January exceeded 266,000 units, setting a new monthly sales record; new energy vehicle sales exceeded 121,000 units, an increase of approximately 84% year-on-year.Mexican Economy Minister Marcelo Ebrard: (When asked about U.S. tariffs) We will win.February 2, local time on February 1, Pakistans Armed Forces Public Information Department issued a statement saying that the Pakistani military killed 23 terrorists in a counter-terrorism operation in the southwestern province of Balochistan, and 18 Pakistani security personnel died in the operation. The statement said that the Pakistani military carried out a counter-terrorism operation in the Glad area of Balochistan, killing 12 terrorists. In the exchange of fire with terrorists, 18 Pakistani security personnel died. The Pakistani military immediately launched a clearing operation in the Herna area of Balochistan, killing 11 terrorists and destroying several terrorist hideouts.On February 2, local time on February 1, the U.S. Federal Election Commissions year-end filings showed that Elon Musk spent more than $290 million in the 2024 U.S. election. The documents showed that Musk donated about $11.2 million to his funded "Political Action Committee (PAC)" on the last day of the year, bringing his total political donations to more than $290 million.On February 2, the US government announced that it would impose a 25% tariff on imports from Canada and Mexico. US President Trump signed a tariff order on the same day, imposing an additional 25% tariff on imports from Canada and Mexico and a 10% tariff on energy resources from Canada. The tariffs are tentatively scheduled to take effect on the 4th. The White House said that if the US tariffs are retaliated, the US may increase the tariffs.

Natural Gas, WTI Oil, Brent Oil – Oil Markets Test New Highs

Cory Russell

Jan 18, 2023 16:09

Natural Gas

Natural gas settled near the $3.60 level as traders remained focused on weather forecasts. The current market consensus implies that weather will turn colder closer to the end of the month. However, it remains to be seen whether forecasts will provide additional support to natural gas markets in the near term as current demand for natural gas remains low.

WTI Oil

WTI oil tested new highs today as traders bet on rising demand from China. In its latest report, OPEC said that world demand will grow by 2.22 million bpd in 2023. However, this estimate could be revised as the fourth quarter of 2022 was stronger than expected.

Brent Oil

Brent oil has also enjoyed strong support in today’s trading session. While resistance near the $87 level remains strong, Brent oil will have a good chance to climb above this level if traders stay focused on rising demand from China.